Wixom, MI Cost of Living

Wixom cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Here we can see a simple outline of the cost of living in Wixom, MI. As you can see, with the average cost of living in Wixom, MI being 98, that puts it 12% higher than the average of Michigan and 2% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Wixom, MI, the price of goods and services are 5% higher than the average of Michigan as well as 3% lower than the nation's average.

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How would you rate the cost of living in Wixom?Excellent. Goods, services and housing are all very affordable.Good. Most goods and services are affordable.Poor. Everything is more expensive than I'd like.Awful. You'll have to take out a loan to live here.View resultsWrite a review to give others more information about this area.Is the cost of living increasing or decreasing in Wixom?Decreasing rapidly. Costs are dropping at a rapid rate.Decreasing steadily. Costs of goods and services are declining.Increasing steadily. Price are inreasing, but at a reasonable rate.Increasing rapidly. I can barely keep up with the increasing prices.View resultsWrite a review to give others more information about this area.

Compare Wixom, MI Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator allows you to compare how much your current salary in Wixom, MI would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Wixom, MI, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Wixom, MI salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$98,320

$8,193

$2,294

$2,950

Renters

$30,876

$2,573

$720

$926

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Wixom, MI as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Wixom, MI homeowners, is $98,320. This would allow for a maximum of $2,294 per month to be spent on housing costs. For renters, the median monthly income is $30,876 which would result in a maximum of $720 to be spent on rental costs.

Michigan Sales Tax

State

General Sales Tax

With Max Surtax

Michigan

6%

6%

Michigan Income Tax

State

Income Tax (Low)

Income Tax (High)

Michigan

4.25%

4.25%

The Michigan sales tax and Michigan income tax rates should definitely be considered when determining the overall cost of living in Wixom, MI. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Michigan sales tax is 6% and the maximum surtax is 6%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Michigan income tax rates range from 4.25% to 4.25%.

Goods & Services

Item

Wixom

National avg.

Difference

Haircut

$16.23

$16.09

0.9%

Beauty Salon

$47.07

$37.33

26.1%

Toothpaste

$2.18

$2.45

11.1%

Shampoo

$0.80

$1.00

20.0%

Movie

$10.62

$10.28

3.3%

Bowling

$3.44

$4.93

30.3%

Groceries

Item

Wixom

National avg.

Difference

Ground Beef

$3.71

$3.80

2.4%

Fried Chicken

$1.15

$1.40

17.7%

Milk

$1.73

$2.01

14.0%

Potatoes

$2.37

$3.01

21.4%

Pizza

$10.56

$9.89

6.9%

Beer

$8.03

$8.90

9.8%

Health Care

Item

Wixom

National avg.

Difference

Optometrist

$74.88

$102.16

26.7%

Doctor

$97.01

$108.36

10.5%

Dentist

$91.17

$92.53

1.5%

Ibuprofen

$8.27

$9.28

10.8%

Lipitor

$430.75

$425.82

1.2%

Housing

Item

Wixom

National avg.

Difference

Home Price

$205,900.00

$184,700.00

11.5%

Avg. Mortgage Payment

$1,087.18

$1,202.44

9.6%

Apartment Rent

$664.00

$949.00

30.0%

Transportation

Item

Wixom

National avg.

Difference

Gasoline

$2.40

$2.24

7.1%

Tire Balancing

$50.88

$46.29

9.9%

Utilities

Item

Wixom

National avg.

Difference

All Electricity

$150.83

$165.96

9.1%

Phone

$33.31

$28.68

16.1%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.